Key Points
- CEO Barclay Corbus bought 14,000 shares of Clean Energy Fuels at an average price of $1.77 per share, spending $24,780 and increasing his ownership by 1.05%.
- CLNE recently reported mixed quarterly results, beating EPS and revenue estimates, but still posting a small loss and negative margins. Revenue rose 13.3% year over year to $117.56 million.
- Wall Street remains cautious on the stock, with an average analyst rating of “Hold” and a consensus price target of $2.48, while some recent institutional investors increased their positions.
Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) CEO Barclay Corbus acquired 14,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $1.77 per share, with a total value of $24,780.00. Following the completion of the purchase, the chief executive officer owned 1,350,021 shares in the company, valued at $2,389,537.17. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Clean Energy Fuels Price Performance
Shares of NASDAQ CLNE opened at $1.73 on Thursday. Clean Energy Fuels Corp. has a 1-year low of $1.66 and a 1-year high of $3.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. The business's fifty day moving average price is $2.08 and its two-hundred day moving average price is $2.23. The firm has a market capitalization of $379.90 million, a PE ratio of -3.75 and a beta of 1.86.
Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The company had revenue of $117.56 million for the quarter, compared to analysts' expectations of $102.62 million. During the same period last year, the business posted $0.01 earnings per share. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Clean Energy Fuels Corp. will post -0.31 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Clean Energy Fuels in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Clean Energy Fuels presently has an average rating of "Hold" and an average price target of $2.48.
Check Out Our Latest Report on Clean Energy Fuels
Institutional Trading of Clean Energy Fuels
Several large investors have recently added to or reduced their stakes in CLNE. NewEdge Advisors LLC raised its stake in Clean Energy Fuels by 1,419,900.0% during the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 14,199 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Clean Energy Fuels by 54.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock worth $29,000 after acquiring an additional 5,254 shares during the period. R Squared Ltd bought a new position in shares of Clean Energy Fuels in the first quarter worth $31,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Clean Energy Fuels in the fourth quarter worth $31,000. Finally, CWM LLC increased its holdings in shares of Clean Energy Fuels by 40.3% during the fourth quarter. CWM LLC now owns 16,683 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 4,791 shares during the period. 49.94% of the stock is currently owned by institutional investors and hedge funds.
Clean Energy Fuels Company Profile
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Get Free Report)
Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.
In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.
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